It’s Make or Break for Ethereum Bulls as ETH Nears Critical Resistance

Ethereum is flashing some signs of strength today as it inches higher while caught within a short-term consolidation phase. This consolidation trend came about after the cryptocurrency rallied to highs of $380 before facing some heightened selling pressure that caused its price to retrace back down towards $360. It is now trading squarely between these two levels, with buyers and sellers largely reaching an impasse as they both attempt to gain control over the cryptocurrency’s near-term outlook. This sideways trading bout has come about, in part, due to that seen…

A Gov official in South Korea proposed the nation’s first blockchain voting platform

On September 11, the head of the Seocho regional government proposed a blockchain-powered voting platform for residents, and praised the recent influx of crypto-related developments across the country. According to UpDown Korea, Cho Eun-hee, who is the local government leader of one of Seoul’s most affluent districts, believes that it is the “right time” to start using blockchain technology, “so any citizen can easily propose their opinions.” The official from Seocho called on the country to take on a greater role in our “rapidly changing modern society” in the wake…

Growing Bitcoin Hashrate Points to Further BTC Gains

Key Takeaways Bitcoin total mining hashrate rose to a new all-time high above 150 exahashes per second last week despite the drop in BTC prices Bitcoin mining is more profitable compared to the competing SHA-256 protocols, most of which are Bitcoin forks There is increasing participation from miners outside of China and the United States; Canada and Kazakhstan are rising mining hubs Share this article Miners continue to ramp up their operations as BTC mining profitability remains high compared to other SHA-256 cryptocurrencies. Several other factors point to continued increases…

Would Bitcoin suffer if the lead maintainers were kidnapped by aliens?

It is a question that many in the crypto community must have asked themselves at least once. The news of Wladimir van der Laan taking a temporary hiatus, prompted us to explore what some might consider to be an improbable, yet highly impactful situation. A Bitcoin Core developer that is also a maintainer of the project’s GitHub account (i.e., someone who can “merge code into the master branch”) is a rare commodity. To put this in perspective, if a Bitcoin Core developer is a black belt, then someone like van der Laan…

A DeFi bull run might take $400 Ethereum options traders by surprise

Ether (ETH) price gained 14% from its Sept. 6 low at $320, but this month’s futures and options expiry is less than two weeks away. As its price is still pinned below $400, this raises the question of exactly how confident are derivatives traders of a 9% recovery to $400? By analyzing options model pricing, investors can easily conclude that traders are pricing in the 34% odds of Ether reaching $400 or higher. Still, the Black & Scholes options model main issue is heavily dependent on the number of days…

Chainlink is Setting Up for a Move Higher as Bullish Signs Emerge: Analyst

Macro uncertainty within the global markets has had a trickle-down effect, causing Bitcoin to see consolidation and weakness, which has, in turn, led Chainlink and other altcoins to see similar price action. While looking towards LINK’s recent price action, the cryptocurrency has been caught within a trading range between $11.20 and $13.20, with these two levels being visited and respected on multiple occasions throughout the past few days. One analyst is now noting that where the entire market trends in the near-term will likely depend on Bitcoin’s reaction to its…

Digital Assets Data CEO says mainstream finance still doesn’t trust Bitcoin

Following the news of Fidelity Investments’ Bitcoin (BTC) fund filing, Mike Alfred, CEO of analytics outfit Digital Assets Data, described continued hesitancy in mainstream finance when it comes to Bitcoin.  “Many in the traditional financial services/asset management/wealth management verticals remain deeply skeptical of Bitcoin and the ecosystem,” Alfred told Cointelegraph on Sept. 10. “One commenter on my LinkedIn yesterday even called Fidelity’s move ‘Abby’s folly,’” he said, which takes a shot at Fidelity CEO Abigail Johnson in reference to her activities and position as an early Bitcoin adopter.  A mainstream…

DeFi oracles, explained

The oracle problem and latency are the major risks of running oracles on a blockchain. The oracle problem arises due to a trust conflict that centralized third-party systems bring to smart contracts and blockchain systems that are decentralized. Because the data provided by oracles is directly fed into smart contracts, which function based on this data, it’s evident that oracles hold hierarchical power in the execution of the smart contracts. Due to these immense implications, it’s critical for DeFi apps and protocols to have oracles with reliable data and little…

South Korean exchange traffic has risen sharply since June — Is this why?

Data indicates that Coinone, a South Korean exchange, saw its user base rise by about 10,000 people per month after listing Kakao’s klaytn (KLAY) token in June.  The token was listed after Kakao, a tech giant who runs the most popular chat app in South Korea, made crypto transactions a part of their messaging app, KakaoTalk. Shortly after launch, Kakao announced that their messenger’s new crypto wallet function had surpassed 100,000 users in less than a day. KLAY’s surge in value, which has more than tripled over three months, has…

SushiSwap Founder Chef Nomi Returns $13M in Hijacked Ethereum

SushiSwap founder Chef Nomi drained his creation’s development fund for 38,000 Ethereum on Sept. 7, just one week after creating the project, and transferred control over to FTX Exchange’s Sam Bankman-Fried. Today, Chef Nomi came full circle and returned his ill-gotten gains to the SushiSwap treasury. To everyone. I fucked up. And I am sorry. — Chef Nomi #SushiSwap (@NomiChef) September 11, 2020 The sudden and unexpected return of funds came as a surprise to many. Chef Nomi is apologetic, but many find it difficult to trust the anonymous founder’s…